RSS feedSigma
’A Swiss “sigma” event
Or, turning the leveraged into fondue. Hat-tip to Scott Barber of Reuters graphics:
Related link:
European Central Bank response – ECB
Sigma-tic cotton prices
A nearly 10-sigma move in cotton futures since last July — or something which should happen once every 1 x 10^22 trading sessions, according to Sean Corrigan:
Sigma-tised – death of a SIV
The saga of Sigma Finance — God’s gift to structured finance writers, with its shadow banking connotations, Gordian Knot connection and ‘event’ associations — is lurching to its end.
On Monday, liquidators of the erstwhile $27bn SIV issued their final statement.
Sigma creditors face total loss
Most creditors of Sigma Finance, the last fund to collapse in a once $400bn SIV investment industry, face complete losses when the assets of the structured investment vehicle are sold next week. Ernst & Young,
Ernst & Young on standby for Sigma
Ernst & Young is on standby to act as receiver to Sigma Finance, the collapsed $27bn debt vehicle, say people close to the matter, although there is uncertainty about when an appointment could be made.
Sigma collapse marks end of SIV era
Sigma Finance, the last of the complex debt funds at the heart of the credit crisis has collapsed and is to appoint receivers, ending a 25-year project to create a “shadow banking” industry. The collapse follows the cutting of a funding line by JPMorgan.
CDS report: Rally runs out of steam
The cost of protecting European corporate debt against default rose on Thursday as investors lost faith in a start-of-the-week rally.Overnight, Moody’s hinted it may cut the Aaa rating of Sigma Finance,
Moody’s to review Sigma rating
Sigma Finance, a $40bn-plus complex debt investment vehicle run by the London-based specialist asset manager Gordian Knot, has been put on review for downgrade by Moody’s. The agency said that $27bn worth of senior short- and medium-term debt issued by Sigma,